Up $0.15 or 0.35%.
The price of WTI crude futures settle the day at $42.76. That’s up $0.15 or 0.35%. The high price for the October contract reached $43.43. The low price extended to $42.72.
The contract continues to hang around technical levels. The 200 day moving average is at $43.03. The last 6 trading days have seen the price trade above and below the 200 day moving average without much momentum to the upside (nor to the downside for that matter).
The high over that period came in at $43.78, while the low was down at $42.31. The 50% retracement of the 2020 range comes in at $42. The price has not closed below its 50% retracement since August 7.
Staying above the 50% retracement level is positive, but the price needs to move away from its 200 day moving average as well. Until then it’s ho-hum with narrow up and down ranges.
